Steel Grove Capital Advisors LLC Makes New $226,000 Investment in Equinix, Inc. (NASDAQ:EQIX)

Steel Grove Capital Advisors LLC acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 280 shares of the financial services provider’s stock, valued at approximately $226,000.

A number of other institutional investors have also made changes to their positions in the company. Balentine LLC raised its holdings in Equinix by 0.8% in the third quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock valued at $1,240,000 after acquiring an additional 14 shares in the last quarter. DRW Securities LLC raised its stake in shares of Equinix by 2.7% in the 2nd quarter. DRW Securities LLC now owns 535 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 14 shares in the last quarter. Equitable Holdings Inc. lifted its position in shares of Equinix by 0.5% during the first quarter. Equitable Holdings Inc. now owns 3,085 shares of the financial services provider’s stock worth $2,224,000 after purchasing an additional 14 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in Equinix by 0.5% in the third quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock worth $2,021,000 after purchasing an additional 15 shares in the last quarter. Finally, Legacy Advisors LLC raised its stake in Equinix by 1.6% during the third quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock valued at $679,000 after buying an additional 15 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Jonathan Lin sold 624 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $809.66, for a total transaction of $505,227.84. Following the sale, the executive vice president now directly owns 5,671 shares in the company, valued at approximately $4,591,581.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Equinix news, EVP Jonathan Lin sold 624 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $809.66, for a total value of $505,227.84. Following the completion of the sale, the executive vice president now owns 5,671 shares in the company, valued at approximately $4,591,581.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Crenshaw sold 460 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the sale, the executive vice president now directly owns 1,242 shares in the company, valued at $1,034,548.74. The disclosure for this sale can be found here. Insiders sold 18,282 shares of company stock worth $14,788,771 in the last quarter. 0.32% of the stock is owned by corporate insiders.

Equinix Stock Up 1.4 %

NASDAQ:EQIX traded up $11.04 on Thursday, hitting $826.35. 492,525 shares of the company’s stock traded hands, compared to its average volume of 555,698. The company has a market cap of $78.19 billion, a PE ratio of 79.93, a price-to-earnings-growth ratio of 1.91 and a beta of 0.59. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average price of $849.93 and a 200-day moving average price of $798.15. Equinix, Inc. has a 1 year low of $672.88 and a 1 year high of $914.93.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.06%. Equinix’s dividend payout ratio is currently 165.28%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EQIX shares. Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. TheStreet raised Equinix from a “c+” rating to a “b-” rating in a research report on Wednesday, November 29th. KeyCorp began coverage on Equinix in a research report on Wednesday, December 6th. They set a “sector weight” rating for the company. Finally, Oppenheimer raised their price objective on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $868.72.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.